Bitcoin continued its bullish momentum on December 16, reaching a record-breaking all-time high above $107,700.
This latest price spike is supported by a consistent increase in spot trading activity, alongside the return of the Coinbase Premium during the U.S. trading session.
The U.S. market saw significant buying pressure, building on the weekend’s strong rally. On December 15, traders on Binance and KuCoin drove BTC’s price above key resistance levels between $103,000 and $104,000, backed by robust spot activity and heightened futures trading volumes.
Adding to the upward momentum, reports of significant Bitcoin acquisitions by institutional players MicroStrategy and Semler Scientific surfaced early in the day. Semler purchased 211 BTC for $21.5 million at an average price of $101,890 per coin, while MicroStrategy added 15,350 BTC to its holdings, spending $1.5 billion at an average price of $100,386 per coin.
Market analyst Willy Woo pointed out that Bitcoin’s network has seen inflows exceeding $3 billion daily over the past month, showcasing the growing demand for BTC.
Meanwhile, Bitcoin exchange-traded funds (ETFs) have played a pivotal role in driving the market higher. Data from SoSoValue revealed that for the week ending December 12, ETFs saw $2.17 billion in inflows, pushing total net assets to an impressive $114.97 billion.
Independent researcher and investor Timothy Peterson predicts further price growth, suggesting Bitcoin could reach $115,000 soon, largely fueled by ETF fund flows and strong investor demand.
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